NO money has been found for the creditors of the company which went bust ahead of a planned Olly Murs concert in Dorset, with debts of almost £900,000.

The promoter Stephen C Associates collapsed less than a fortnight before the pop star was due to take to the stage in Bournemouth’s Kings Park in the summer of 2017.

Hundreds of ticket holders across the county were affected by the cancellation.

The business, run by Stephen McManus, has an estimated 66 unsecured creditors whose liabilities add up to £877,862.

The biggest creditor is the payments processing company Worldpay, which is owed £535,820.

A report by joint liquidator Nicola Fisher, of Herron Fisher, says: “Various avenues of investigation have been followed to date, none of which have produced any financial benefit for the company’s creditors, and so far none of them have yet made me optimistic that any realisations are likely to be achieved.

“There are still a couple of lines of investigation that are continuing, but I am doubtful that they will lead to any material financial realisations.”

She said the liquidators had followed up a lead about the whereabouts of assets including advertising boards, gazebos and marketing equipment.

“Our agents looked at photographs of the items and reported that the costs associated with uplifting and then selling the items would far outweigh any potential realisations, particularly as some of the main items were old and/or weather-damaged. Those assets located were, on our agent’s advice, abandoned,” she wrote.

She added: “It was suspected that there may have been monies owed to the company from some of its customers. In the absence of any assistance from the company’s director or former staff, the only way in which the existence and substantiation of any realisable debts could be proven was for us to obtain details from the company’s books and records.”

But she added: “Unfortunately, the quality of those records that we did manage to eventually recover was insufficient to prove whether or not any monies were owed to the company.”

Liquidators had so far received claims from 46 of the estimated 66 unsecured creditors, including HMRC, which was seeking £14,055.

There were 30 claims totalling £6,731 from customers who bought tickets, but Ms Fisher said some of these would have been compensated by their banks or credit card companies.

She said that “my investigations are still continuing, particularly in relation to cash withdrawals and transfers made from the company’s bank account in the two years prior to the company ceasing to trade in July 2017”.

But she added: “I cannot be confident that my continuing work is likely to produce any financial benefit for the liquidation, however, as I have been advised that any action taken against the company’s director is likely to be fruitless.”